On the subject of credit card, I learn something new recently while watching the RMCN credit services in Youtube – “good credit is like cash in the bank“.
This video is about an American company which specializes in repairing credits i.e. improving ones “creditworthiness” to increase ones chances of getting their loans or credit cards applications approved. In layman language, banks (among others) will check the financial background of anyone applying for credit to gauge and determine an applicant’s ability to pay. Bad debts or defaulting on payments all contribute to low credit scores and minimises the chances of getting loans or credit card approved.
One testimonial in the video speaks of how this company helped one lady raised her credit scores and successfully allowed her to get a housing loan.
I have heard of credit scores but I am not sure how anyone’s creditworthiness is improved and even more unsure if we have such companies that do similar services here in Brunei.
